You may be a Harvard economist, I'm glad you're not my accountant! You've gone out of your way to maximize the tax penalties you'll incur in your goal of paying for your children's education. Perhaps you should take that 1000$ and find a decent financial planner. As a starting point, how about just investing in an index fund, taking long-term capital gains, and writing a check to pay for your kids' college?
You may be a Harvard economist, I'm glad you're not my accountant! You've gone out of your way to maximize the tax penalties you'll incur in your goal of paying for your children's education. Perhaps you should take that 1000$ and find a decent financial planner. As a starting point, how about just investing in an index fund, taking long-term capital gains, and writing a check to pay for your kids' college?